By Chris Wack
Voxeljet shares were up 25% to $1.30 after the company was selected by GE Research as its partner for the U.S. Department of Energy’s $14.9 million award in federal funding for the development and commercialization of a large sand binder jet 3D printer, called Advanced Casting Cell.
The stock hit its 52-week low of $1.02 Tuesday, and is down 58% in the past 12 months.
In addition to voxeljet, GE Research also has selected GE Hydro, GE Onshore Wind, GE Offshore Wind, Clemson University, Oak Ridge National Laboratory and Hodge Foundry as partners on the ACC project.
The Advanced Casting Cell project will be developed and deployed to produce sand molds to manufacture metallic near-net shape parts. The project includes the digital creation of mold designs via a digital foundry as well as the completion of a techno-economic analysis of cost and supply chain challenges.
Voxeljet will develop and build a 3D sand printer with breakthrough size for the additive manufacturing of sand molds for casting parts ranging from 10 tons to more than 60 tons.
The project aims to produce 3D-printed large scale sand molds to cast components for the nacelle of the GE Haliade-X Offshore Turbine.
On Sept. 25, voxeljet said its board has started a process to evaluate strategic alternatives for the company. The provider of high-speed, large-format 3D printers said it is looking into investments, mergers and acquisitions, joint ventures and strategic partnerships, among other options.
Write to Chris Wack at [email protected]
Read the full article here